Reunert says its annual results, to be published on 18 November, will show headline earnings per share will be between 13% and 23% lower than its 2013 full-year figures.
The listed group says headline earnings per share - seen by analysts as a key measure of performance - are expected to come in at between 452.4c and 511.2c, while earnings per share should gain between 101% and 111% to between 1 172.4c and 1 230.8c.
It says headline earnings per share were hurt by the month-long manufacturing strike, which led to lower performance in its CBI-electric segment as well as challenging market conditions, which led to revenue and margins in the Nashua segment not meeting expectations.
In addition, delays in a major export order resulted in an earnings shortfall in the Reutech segment. The company also had several once-off costs and goodwill impairments.
Earnings per share was boosted by its sale of the Nashua Mobile subscriber base to MTN, Vodacom and Autopage Cellular, which was approved by the Competition Tribunal towards the end of last month.
Reunert will earn around R3.17 billion in total for the sale of its subscriber base, which will lead to it closing down its Nashua Mobile unit.
A year ago, the company said revenue dropped 3% from R11.7 billion to R11.4 billion, which it mostly attributed to issues in CBI-electric and Nashua. These declines were partially offset by an increase in revenue from the Reutech segment.
Operating profit declined 13% to R1.3 billion, which Reunert says reflected the "compression experienced in margins due to sales price pressure and increasing costs". Profit for the 2013 year reduced by 10% to R959 million, while headline earnings per share decreased 11% to 583c compared to 658c in the 2012 year.
Share